{"id":62529,"date":"2018-04-09T04:43:17","date_gmt":"2018-04-09T04:43:17","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=62529"},"modified":"2018-04-09T04:43:17","modified_gmt":"2018-04-09T04:43:17","slug":"trump-allies-play-down-concerns-about-effect-of-trade-war-with-china-on-economy","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/news\/trump-allies-play-down-concerns-about-effect-of-trade-war-with-china-on-economy.html","title":{"rendered":"Trump, allies play down concerns about effect of trade war with China on economy"},"content":{"rendered":"

Trump, allies play down concerns about effect of trade war with China on economy<\/span><\/strong><\/h2>\n

President Trump and his allies again assured the country Sunday morning that they do not expect China to actually implement threatened tariffs that could rock the U.S. economy and hurt American farmers, especially those who grow soybeans or raise hogs.<\/span><\/p>\n

\u201cChina will take down its Trade Barriers because it is the right thing to do,\u201d Trump said in a tweet Sunday morning. \u201cTaxes will become Reciprocal & a deal will be made on Intellectual Property. Great future for both countries!\u201d<\/span><\/p>\n

In interviews on Sunday morning talk shows, administration officials defended the president\u2019s trade approach and emerging policy with regard to China. China and the United States have threatened to levy new tariffs on each other in an escalating trade dispute.<\/span><\/p>\n

\u201cNo president has had the backbone to take it up publicly before,\u201d Larry Kudlow, the new director of the National Economic Council, said on CNN\u2019S \u201cState of the Union.\u201d \u201cSo, I think he is exactly right. And I say to everybody on this, the problem here is China. It is not President Trump. China has been getting away with this for decades.\u201d<\/span><\/p>\n

Kudlow said a \u201ccoalition of the willing\u201d was being formed to pressure Chinese President Xi Jinping, including by taking the issue to the World Trade Organization to crack down on China\u2019s trade practices. Kudlow declined to release a full list of countries involved during an interview on \u201cFox News Sunday,\u201d but he said Australia, Canada and much of Europe were among them.<\/span><\/p>\n

Administration officials tried to tamp down growing concerns about the impact a trade war would have on farmers. They suggested that the trade dispute may be resolved through negotiations and that the \u201cprocess may turn out to be very benign,\u201d according to Kudlow.<\/span><\/p>\n

But they said they plan to move forward on new tariffs on China.<\/span><\/p>\n

\u201cWe\u2019re listening to the Chinese. We\u2019re willing to work with them,\u201d Peter Navarro, director of the Office of Trade and Manufacturing Policy, said on NBC News\u2019s \u201cMeet the Press.\u201d<\/span><\/p>\n

\u201cBut we\u2019re clear-eyed about this. We\u2019re moving forward on a measured way with tariffs, with investment restrictions,\u201d Navarro added. \u201cWhat we want from China is very clear. We want fair and reciprocal trade.\u201d<\/span><\/p>\n

Treasury Secretary Steven Mnuchin declined to comment on the substance of trade talks with China during an interview on CBS News\u2019s \u201cFace The Nation.\u201d He also sought to head off concerns that protectionist trade policies would disrupt the growth of the U.S. economy.<\/span><\/p>\n

\u201cWhatever happens in trade, I don\u2019t expect it to have a meaningful impact on our economy. And the president has said \u2014 sectors like agriculture, he\u2019s prepared to defend,\u201d Mnuchin said.<\/span><\/p>\n

Sen. Mike Rounds (R-S.D.) warned that new tariffs on American products could cripple farmers in his state, which relies heavily on exporting soybeans \u2014 the state\u2019s second-largest crop.<\/span><\/p>\n

\u201cWe\u2019re talking about a lot of money that goes down, just on the speculation of having a tariff put in place,\u201d Rounds said on \u201cMeet the Press.\u201d<\/span><\/p>\n

Sen. Lindsey O. Graham (R-S.C.) acknowledged that U.S. industries may take a short-term hit in the trade dispute, saying, \u201cThere is no way for us to address China without absorbing some pain here.\u201d But he defended Trump\u2019s plans as a sound long-term strategy.<\/span><\/p>\n

\u201cAt the end of the day, the president promised if he got to be president he would push back against China,\u201d Graham said in an interview on ABC News\u2019s \u201cThis Week.\u201d \u201cThat\u2019s exactly what he\u2019s doing. They\u2019re pushing back against us. I like our chances of prevailing if we stick with it.\u201d<\/span><\/p>\n

Sen. Susan Collins (R-Maine) sounded notes of both praise and caution for Trump\u2019s protectionist trade policies.<\/span><\/p>\n

\u201cI think we need a more nuanced approach, but I give the president credit for levying these tariffs against the Chinese, with whom we\u2019ve talked for a decade about their unfair trade practices,\u201d said Collins, appearing on \u201cState of the Union.\u201d<\/span><\/p>\n

She added, \u201cThis is costing us jobs in this country, and we do need to get tough with China. But we need to do so in a way that we do not spark a trade war.\u201d Collins called it a \u201cvery delicate balancing act.\u201d<\/span><\/p>\n

Source:-https:\/\/www.washingtonpost.com\/politics\/trump-allies-play-down-concerns-about-effect-of-trade-war-with-china-on-economy\/2018\/04\/08\/47796dd0-3b31-11e8-974f-aacd97698cef_story.html?utm_term=.080d36167b7d<\/span><\/p>\n

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